• Filing Date: 2014-04-14
  • Form Type: 10-K
  • Description: Annual report
v2.4.0.8
Statement - CONDENSED CONSOLIDATED BALANCE SHEET (USD $)
Dec. 31, 2013
Dec. 31, 2012
CURRENT ASSETS:    
Cash $ 44,553 $ 45,861
Accounts Receivable, net of allowance for bad debt of $13,014 and $234,727 221,549 203,967
Inventory, net 307,502 454,211
Employee Advances 3,620 11,832
Deferred Loan Costs 1,032 7,400
Deferred Compensation    309,450
Prepaid and Other Assets 76,203 11,306
Total Current Assets 654,459 1,044,027
LONG-TERM ASSETS:    
Property Plan and Equipment, net of accumulated depreciation of $17,062 and $16,430 29,259   
Intangible Assets, net of accumulated amortization of $216,882 and $165,851 293,428 344,459
Deferred Loan Costs    5,126
TOTAL ASSETS 977,146 1,393,612
CURRENT LIABILITIES:    
Accounts Payable 192,166 205,206
Accrued Royalties and Dividends 375,000 803,238
Accrued Liabilities 260 263,165
Accrued Interest - Related Parties 29,255 34,054
Accrued Interest 107,582 132,018
Derivative Liabilities 1,040,850 1,336,574
Stock Subscription Payable    6,000
Convertible Notes Payable - Related Parties    200,000
Notes Payable - Related Parties 115,620 215,620
Convertible Notes Payable, net of unamortized discounts of $50,837 and $18,005 1,284,063 405,640
Notes Payable 300,900 1,408,647
Total Current Liabilities 3,445,696 5,010,162
LONG-TERM LIABILITIES    
Debentures, net of discount ($0, $160,744)    189,256
TOTAL LIABILITIES 3,445,696 5,199,418
STOCKHOLDERS' EQUITY (DEFICIT)    
Series A Preferred Stock, $10 par value, 5,000,000 shares authorized; 0  issued and outstanding      
Series B Preferred Stock, $10 par value, 75,000 shares authorized; 0  issued and outstanding      
Series C Convertible Preferred Stock, $10 par value, 100,000 shares authorized; 38,232 issued and outstanding as of December 31, 2013. 382,320   
Series D Convertible Preferred Stock, $10 par value, 25,000 shares authorized; 15,000 issued and outstanding as of December 31, 2013. 150,000   
Common Stock: $.001 par value; 100,000,000 shares authorized; 85,664,558 Issued and 85,660,469 outstanding as of December 31, 2013 and 68,782,470 issued and 68,778,381 outstanding as of December 31, 2012. 85,664 68,782
Additional Paid-in Capital 40,090,878 35,154,736
Treasury Stock (12,039) (12,039)
Accumulated Deficit (43,165,373) (39,017,285)
Total Stockholders' Deficit (2,468,550) (3,805,806)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 977,146 $ 1,393,612